{"id":551588,"date":"2023-02-01T09:54:29","date_gmt":"2023-02-01T04:24:29","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=551588"},"modified":"2023-02-01T10:55:12","modified_gmt":"2023-02-01T05:25:12","slug":"indian-oil-corp-q3-net-dips-92-to-rs-448-cr-on-higher-costs-forex-losses","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/indian-oil-corp-q3-net-dips-92-to-rs-448-cr-on-higher-costs-forex-losses\/","title":{"rendered":"Indian Oil Corp Q3 net dips 92% to Rs 448 cr on higher costs, forex losses"},"content":{"rendered":"<p>BENGALURU (Reuters) &#8211; Indian Oil Corp Ltd (IOC), the country&#8217;s top refiner, reported a 92.4% fall in third-quarter profit on Tuesday, hurt by static pump prices, higher costs and foreign exchange losses.<\/p>\n<p>The marketing under-recovery of oil marketing companies was hurt by retail prices that have remained unchanged since April 2022.<\/p>\n<p>The state-owned company reported a net profit of 4.48 billion rupees ($54.71 million) for the quarter ended Dec. 31 against 58.61 billion rupees a year earlier.<\/p>\n<p>A 40% surge in input costs pushed up total expenses by 20.4% to 2.30 trillion rupees. <\/p>\n<p>The company also logged a foreign exchange loss of 17.01 billion rupees during the quarter, the company said in an exchange filing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BENGALURU (Reuters) &#8211; Indian Oil Corp Ltd (IOC), the country&#8217;s top refiner, reported a 92.4% fall in third-quarter profit on Tuesday, hurt by static pump prices, higher costs and foreign exchange losses. The marketing under-recovery of oil marketing companies was hurt by retail prices that have remained unchanged since April 2022. The state-owned company reported a net profit of 4.48 billion rupees ($54.71 million) for the quarter ended Dec. 31 against 58.61 billion rupees a year earlier. A 40% surge in input costs pushed up total expenses by 20.4% to 2.30 trillion rupees. The company also logged a foreign exchange [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-551588","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/551588","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=551588"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/551588\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=551588"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=551588"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=551588"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}